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Monday Dec 1 2025 09:40
2 min
The People's Bank of China convened a working coordination meeting to combat cryptocurrency trading speculation, reaffirming the 2021 policy on banning cryptocurrency operating activities. The meeting particularly focuses on cracking down on illegal use of stablecoins in currency conversion and money laundering. The addition of the Ministry of Justice, the Central Financial Office, and the State Administration of Financial Supervision marks a comprehensive upgrade to China's cryptocurrency governance.
HashKey Holdings Limited has secured approval for listing on the Hong Kong Stock Exchange, aiming to build a licensed digital asset platform. The company plans to support 80 cryptocurrencies by 2025, with assets exceeding HK$19.9 billion. This marks a significant step towards establishing a compliant digital asset ecosystem in Hong Kong.
ZEC experienced a notable 20% drop in 24 hours, falling more than 53% from its yearly high. The trading volume in the crypto market in November dropped to approximately $1.6 trillion, the lowest since June. Bitcoin and Ethereum have seen monthly drops of over 20%, with more than 10 other coins in the top 100 experiencing declines of over 40%. These fluctuations underscore the inherent risks in the cryptocurrency market.
Overall, the cryptocurrency market is undergoing significant shifts, driven by regulatory changes, technological innovations, and market volatility. Investors and vendors should stay informed and make informed decisions to navigate this complex landscape.
Risk Warning: This article represents only the author’s views and is provided for informational purposes only. It does not constitute investment advice, investment research, or a recommendation to trade, nor does it represent the stance of the Markets.com platform. When considering shares, indices, forex (foreign exchange), and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and may not be suitable for all investors. Leveraged products can result in capital loss. Past performance is not indicative of future results. Before trading, ensure you fully understand the risks involved and consider your investment objectives and level of experience. Trading cryptocurrency CFDs and spread bets is restricted for all UK retail clients.
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